Development Dud - My9 New Jersey

Development Dud

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Trenton, New Jersey (My9NJ) - Some developers of luxury condos in New Brunswick, New Jersey are in hot water. It appears that Boraie Development has not completed signing official paperwork on development projects in the area, but has continued to move forward with construction anyway. Charlie Kratovil, Editor of “New Brunswick Today” discusses the information surrounding this ongoing issue.

“This is the building that got $4.8 million dollars from Sandy Relief money. The reason they got that money because they pledged to create some affordable housing units there. But when we looked into their track records previously in a luxury building they had promised to offer affordable units and then reneged on that promise. The Christie administration let them off the hook five years late,” Kratovil said.

These developers are making a profit off of New Jersey taxpayers due to subsidizing for-profit development. Private-capital and investing their own money would be a more probable option for the luxury condo developers.

“The developer is a very wealthy individual and very wealthy company that spends a lot of money on political donations. So you have to ask yourself, if they could afford to give all this money to politicians why can’t they afford to build their own building without the help from the government?” Kratovil stated.

Along with making the new housing affordable for people in the town, the developer was also supposed to submit a progress report every six weeks and give notice if they were going to change up the number of market-rate units or affordable-housing units. All this information was never sent to the state and they were able to avoid their obligations with help from their powerful attorneys.

Governor Christie apparently has taken campaign donations from Boraie Development and it seems like he is not alone. Boraie has donated $94,000 to state Democratic Parties and more than $100,000 to Democrats at the county level. There is also a donation of $47,600 to Booker’s campaigns for both his local and senate runs. Senator Cory Booker’s campaign offices are also owned by Boraie Development, but it is unclear if he pays to rent out the space.

“I haven’t tweeted him but others have and I haven’t seen the response. I asked Cory’s press people multiple times during the campaign and after he won how much rent they were paying for this office in Boraie’s building and they never got back to me. So I can only assume that they are either not paying rent or they just don’t want to tell me how much,” Kratovil said.

There seems to be more questions than answers on the topic. While, some politicians are ready to hold others accountable and point the finger, they instead really need to take a good look in the mirror.


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